Global Gene Therapy Market is expected to reach USD 3928.86 Million by 2025, from USD 855 Million in 2017 growing at a CAGR of 21.5% during the forecast period of 2018 to 2025.

A market research study of Global Gene Therapy Market report help businesses in gaining knowledge about what is already there in the market, what market looks forward to, the competitive background and steps to take up to outshine the rivals. This market report leads to systematic problem analysis, model building and fact-finding for the purpose of decision-making and control in the marketing of goods and services.

The global gene therapy market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of absorbable and non-absorbable sutures market for global, Europe, North America, Asia Pacific and South America.

Major Market Drivers:

Increase in population.

Because of the investment towards the research and developments sectors.

Enhancement of the rare diseases

Awareness towards the rare diseases

Because of high initiatives and governments funding for gene therapy development.

Global Gene Therapy Market Segmentation:

The global gene therapy market is segmented based on vector type, application, end users and geographical segments.

Based on vector type, the market is segmented into viral vector and non-viral vector. Where, viral vector is the largest contributor toward the market growth. Non-viral vector is expected to be a worthwhile market due to the technological expansion with positive consequences for gene therapies during preclinical and clinical trials to cure various diseases.

Based on gene type, the market is segmented into Antigen, Cytokine, Tumor Suppressor, Suicide, Deficiency, Growth Factors, Receptors, and Others. Where, antigen rules the overall market comprising for two-ninths of the total share in 2016.

Based on application, the market is segmented into oncological disorders, rare diseases, cardiovascular diseases, neurological disorders, infectious disease, and other diseases. Viral Oncological disorders are the largest contributor toward the market growth owing to the high prevalence of cancer worldwide and availability of regulatory approved gene therapy for cancer. However, cardiovascular diseases are anticipated to be a lucrative market due to the large number of clinical trials of gene therapy for the treatment of these diseases.

Based on end users, the market is segmented into pharmaceutical companies, research institutions and others. The major part of the revenue of gene therapy market is generated from research phase. Most of the gene therapy products are in research phases, only few products have been commercialized till date. The companies operating in the gene therapy market are also receiving various funding, grants, and investment from government bodies and venture capitalist firms which are aiding them to develop new products.

Gene therapy progress aims to cure rare diseases and some hereditary diseases caused by a mutated or faulty gene. Moreover, ever-increasing need for new cures for orphan diseases and rising incidence of cancer caused due to mutations in genes are likely to stir up the demand for gene therapy. Gene therapy works by repairing, repressing or replacing dysfunctional genes that cause disease with the aim of reestablishing normal function.

For instance, according to World Health Organization (WHO), in 2015, around 8.8 million deaths were because of cancer and globally, approximately 1 in 6 deaths were because of cancer. It was also reported that low income countries have only 26% of pathology facilities for public in 2017. Whereas, 90% of high-income countries stated that treatment facilities were available compared to less than 30% of low-income countries. The total annual economic cost of cancer in 2010 was estimated at approximately US$ 1.16 trillion.

Key Developments in the Market:

In 2016, GlaxoSmithKline (UK) got drug “Strimvelis” approved by European drug regulatory authority for the treatment of ADA-SCID.

In 2015, Amgen (US) got approval of ‘Imlygic’ in Europe and United State to treat melanoma.

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